Wednesday, 14 September 2016

Silver bulls regain control : 14 Sept 2016

Silver futures rose during noon trade in the domestic market on Wednesday as investors and speculators booked fresh positions in the precious metal tracking a firm overseas trend even as a stronger dollar curbed the lure for silver as an alternative asset.

Investors are eying the next moves from key central banks after the ECB last week refrained from fresh stimulus. Despite hawkish comments from Fed officials recently, the US central bank is unlikely to raise interest rates next week while the Bank of England & Bank of Japan may weigh up more stimulus.

At the MCX, silver futures for December 2016 contract closed at Rs 45,735 per kg, up by 0.51 per cent, after opening at Rs 45,510, against a previous close of Rs 45,501. It touched the intra-day high of Rs 45,790.

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